dmedin

This guy appears on IG TV a lot. https://thesteadytrader.com/ Never seen him commit any of his own money. You probably need to pay him an enormous consulting fee for that. Check out his website. It's pretty clear he's not making his money from trading on his own account. Look at the products. He makes money from analysis, not from committing his own money to his own trades. (Apologies if this comes across as very rude.)

Is it worth the subscription fee? I guess it probably is for the full-time professional trader.

The amount of info to digest and look over is overwhelming.

I'm coming round to the conclusion that I can't make this work using any approach, and I just don't know how to do it. I know markets are not 'random walk', they are manipulated by large institutional buyers and algorithms, but that doesn't mean everybody can learn how to make money from it. Buy and hold is probably the only long-term viable option for 99% of people. I'd rather be like one of the experts and 'advise' clients and sell training courses instead of actually gambling with my own money.

Still sinking.

I'm pretty sure this process of coming to terms with large monetary loss and 'dealing' with it (which I have also experienced so I'm not aiming it at you) is a symptom of gambling addiction or something of that nature. I think we need help.

Will be a good opportunity to short at some point.

JD Sports is due for a pullback at some point, there's no doubt about it.

Apparently this is all driven by sales of a vegetarian sandwich.

I don't have fear, I'm just stupid.

Very badly. You'd think I'd learn.

I closed out with a loss on this one. Never mind! Onwards and upwards! I will keep looking at it and maybe go long on the hourly or four hourly time frames

Hanging on for dear life 🙈

Gold is in an uptrend so you'd be wiser to use dips as an opportunity to buy.

Is the demo platform different from the live platform? I.e. deliberately misleading?

IMHO you should not have been shorting gold at all. It is clearly in an uptrend, and this is clear from daily and weekly charts. Day trading is a mug's game ...

@nit2wynit I've given up on what you might call day trading. I try to swing trade and I will hold positions for a longer time frame too. I understand this to be finding the main trend on a daily or weekly and then using hourly or four-hourly only for timing (never going against the prevailing trend). In his book on TA Murphy recommends 'mastering inter-day trading before trying intra-day trading' and I've come to feel the same way. Try to get good at smaller, less valuable trades over a longer time frame before moving into high-stakes ultra-short-term trading. If someone can't do inter-day trading they are unlikely to be able to do intra-day trading.

Seems like it's a question of how much money I will lose, not whether 😲

From a weekly perspective it looks okay. I moved my limit up as I doubt it will pull back all the way to 521 in the imminent future.

I'm really not sure which way it's going after today. So far it looks like positive momentum is holding up. Let's see where it stands at the end of the week. I still think I did the right thing by closing out because you never know how volatile share prices can be on such days.

Seeing a big bullish candle developing today so far. Will wait till end of day to consider whether to re-enter!

The fact is that even with the best plan in the world, you're still not guaranteed to make a return from trading. It's a rich man's game, always has been and always will be. Only people who are already rich have a near-guarantee of making more money on the markets. Most of us exist to be wage slaves and pawns of the rich and powerful ... and that's just a fact of life.

Clearly some folks with very deep pockets managed to snag themselves a bargain in 'after hours' trading when the little man punter got shut out 16:35 - 08/07 Buy 671923 1,170.50p £7,864,858.72 16:46 - 08/07 Buy 41800 1,189.31p £497,131.58 16:46 - 08/07 Buy 41800 1,190.04p £497,436.72 16:46 - 08/07 Buy 41800 1,189.31p £497,131.58 16:46 - 08/07 Buy 41800 1,190.04p £497,436.72

According to John J. Murphy it's important to consider volume as well, volume being higher on the left shoulder and going down at the head and then at the right shoulder. Then it should pick up on the break of the neckline. Helps to confirm the strength of the pattern.

BAT is still on the up.